2. Disclaimer
This presentation may contain certain forward-looking projections and trends that neither
represent realized financial results nor historical information.
These forward-looking projections and trends are subject to risk and uncertainty, and
future results may differ materially from the projections. Many of these risks and
uncertainties are related to factors that are beyond CCR’s ability to control or to estimate,
such as market conditions, currency swings, the behavior of other market participants, the
actions of regulatory agencies, the ability of the company to continue to obtain financing,
changes in the political and social context in which CCR operates or economic trends or
conditions, including changes in the rate of inflation and changes in consumer confidence
on a global, national or regional scale.
Readers are advised not to fully trust these projections and trends. CCR is not obliged to
publish any revision of these projections and trends that should reflect new events or
circumstances after the realization of this presentation.
2
4. Highlights
NET REVENUES:
Increase of 13.3% compared to 3Q11.
EBITDA:
Increase of 4.5% in EBITDA, reaching R$ 860.1 million.
NET INCOME:
Reached R$ 316.8 million, up 18.9% in relation to 3Q11, benefited by increased cash flow
generation and reduction of financial expenses.
ELECTRONIC TOLL COLLECTION:
Electronic toll collections reached 67.6% of total toll revenues, with the number of users of
the STP system expanding by 18.2% compared to September 2011, reaching 3,604,000
active tags.
NEW BUSINESS:
3Q12 was marked by the conclusion of new business acquisition by CCR. Were added to
our portfolio the airports of San José and Curaçao, besides Barcas S.A.
4
5. Subsequent Events
On September 28, 2012, the Board of Directors of CCR approved the payment of 2012
interim dividends. The total ammount of R$ 953,417,088.00 (nine hundred fifty-three
million, four hundred and seventeen thousand and eighty-eight reais), representing R$
0.54 (fifty-four cents of reais) per share.
In October 2012, AutoBan concluded its 4th issue of debentures, in two series, in the
amount of R$ 1.1 billion, making it possible to stretch out its short-term debt.
On October 22, 2012, CCR concluded the acquisition of ownership interests in the
International Airport of Curaçao through the investment of US$ 24,500,000.00.
5
6. Earnings Highlights
Profit growth of 18.9% despite the temporary contraction in EBITDA margin...
Financial Indicators (R$ MM) 3Q11 3Q12 Chg % 9M11 9M12 Chg %
Net Revenues* 1,228.5 1,391.5 13.3% 3,352.1 3,784.8 12.9%
EBIT 652.4 647.0 -0.8% 1,617.4 1,817.8 12.4%
EBIT Mg. 53.1% 46.5% -6.6 p.p. 48.2% 48.0% -0.2 p.p.
EBITDA 823.3 860.1 4.5% 2,146.3 2,390.0 11.4%
EBITDA Mg. 67.0% 61.8% -5.2 p.p. 64.0% 63.1% -0.9 p.p.
Net Income 266.6 316.8 18.9% 604.7 829.7 37.2%
Net Debt / EBITDA LTM (x) 2.3 1.9 - 2.3 1.9 -
EBITDA / Performed investments (x) 4.4 4.1 - 4.0 5.2 -
EBITDA / Interes and Monetary Variation (x) 3.3 5.5 - 3.1 4.8 -
* Net Operational Revenues excludes Construction Revenues.
...as result of nonrecurring expenses and addiction of business in initial phase.
6
9. Costs Evolution (3Q11 X 3Q12)
Total Costs (R$ MM)
Total Costs
Reduction
25%
92%
9% 17%
16% 5% 28% 896
65 (85) 6%
33% 7
33 13
(47)
24 4 764
715 35
3Q11 Depreciation Third-Party Concession Personnel Construction Maintenance Other Costs 3Q12 Ex New Ex 3Q12
and Services f ee costs and Costs Costs Provision Business1 Nonrecurring2 Ex New
Amortization antecipated Business
expenses and Ex
Nonrecurring
Adjustment in the
Quito Airport Review of
+ Traffic maintenance New Business Nonrecurring
consolidation maintenance cycle
contract
¹ Effects of the results consolidation of the International Airports of Quito and San José, Barcas and Transolímpica (new business) in 3Q12.
² Relating to internacional expansion in the period and payment of an lawsuit agreement.
9
10. Financial Results Highlights
Better financial results reflects the drop in Selic rate and...
Net Financial Result (R$ MM) 3Q11 3Q12 Chg % 9M11 9M12 Chg %
Net Financial Result (270,6) (153,6) -43,3% (685,8) (525,5) -23,4%
- Income from Hedge Operation 9,3 0,4 -95,5% (23,4) 17,8 -176,0%
- Monetary Variation (8,1) (5,6) -31,5% (34,0) (21,2) -37,5%
- Exchange Rate Variation (63,3) (2,6) -95,9% (21,6) (43,8) 102,8%
- Present Value Adjustment of Maintenance Provision (17,0) (12,1) -28,7% (55,0) (40,4) -26,5%
- Interest on Loans, Financing and Debentures (241,9) (157,1) -35,1% (652,0) (497,7) -23,7%
- Others (Interest and Investment Income) 65,1 34,7 -46,6% 154,9 100,4 -35,2%
- Other Financial Expenses 1 (14,7) (11,3) -22,8% (54,7) (40,6) -25,8%
¹ Comissions, fees, taxes, fines and interest on taxes
...an active management of liabilities with attractive refinancing for the company.
11
11. Debt in September 30, 2012
Gross debt by indexer
IPCA IGP-M
TJLP
1.5% 1.0%
3.7%
• Total gross debt: R$ 7.9 B
• Net debt/ EBITDA: 1.9X USD
13.2%
•Increase from 11.1% in USD
(2Q12) to 13.2% in debt mix due to
the cosolidation of Quito and San
José airports and Barcas (46.9% of CDI
USD debt) 80.6%
Amortization Schedule (R$ 000)
2,057
1,548
1,475
1,170 1,100
265
31 599
90
82 86
1,493 1,602
1,326
938 949
492
88
2012 2013 2014 2015 2016 2017 to 2025
CDI USD Others 12
12. Debt
Reduction of leverage indexes...
Net Debt/ EBITDA LTM
2.5
2.3 2.3
2.2
2.1
1.9 2.0 1.9
1.9
6,186 6,152 6,330 6,344
5,893
5,633 5,565 5,630
2.5
4,169 2.3 2.3
2.2
2.1
1.9 1.9
1.6
1.5 1.5
3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12
Net Debt (R$ MM) Net Debt/EBITDA (x)
...due to strong cash generation and maturation of recent projects.
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13. Dividends (Cash)
Commitment to pay at least 50% of net income as dividends to shareholders.
127% 130%
7,5%
92%
85% 85% 90%
6,5%
65% 80%
58% 61%
5,5%
2012 Cash dividends paid per share
4,5% 16% 5.0% 30%
4.8% 4.6% 4.7%
4.2%
3,5% 3.8% 3.9% 3.9%
899 -20%
2,5% 127%
130% 0.54 Interim
714 709
6,5% 2.2% 672
1,5% Div. Yield Payout -70%
92%
580
547 85% 85% 90%
5,5% 500
65% 80% 0.06 Complementary
58% 61%
5.0% Dividends 2012
4,5% 263 4.8% 4.6% 4.7%
183
16% 30%
4.2%
3,5% 3.8% 3.9% 3.9%
-20%
2,5%
2003 2004 2005 2006 2007 2008 2009 2010 2011
2.2%
1
1,5% Net Debt Div. Yield Payout -70%
1 Considers the average share price in the year 15
14. Track Record
CCR Track Record: diversification and new bids
Milestone Concession Awarded Acquisition Concession Extension
IPO
STP
(2002)
AutoBAn + Follow-on (2003)
ViaOeste (April 2004)
ViaOeste RodoNorte (October 2004)
Concession (2005)
ViaQuatro
Extension (2006)
(2006)
USA
(2007) Via Lagos
Concession
RenoVias Extension (2011)
(2008)
RodoAnel 2012:
(2008) SP VIAS • Airports: Quito, San
Controlar (2010)
(2009)
José and Curaçao
• Barcas
Follow-on
(2009) • Transolímpica
14
17. ‘Estrada para a Cidadania’
1.5 million students
11 million since the beggining of the program
of indirect
participants
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
10,000 15,000 45,000 45,000 112,000 132,000 135,000 140,000 140,000 145,000 350,000 450,000
400 500 2,200 2,600 3,800 4,000 4,500 6,000 6,000 6,500 13,300 14,000
600,000
Students Teachers Drivers
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19. ‘Estrada para a saúde’
In our structures, are performed more than 1,600 attendances per month.
260m² of resting area for truck 190m² of resting area for truck
drivers. drivers.
attendances/month attendances/month
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